Why Almost Every Perps Platform Blocks UK Users: How They Still Get Traded, VPN, DEX, No-KYC Exposed
The Regulatory Crackdown on Perpetual Trading in the UK
Perpetual trading, or perps, has exploded in popularity within the crypto space, offering leveraged exposure to assets without expiration dates. Platforms like Binance and Bybit dominate this market, but many now block UK users due to stringent regulations from the Financial Conduct Authority (FCA). The FCA views crypto derivatives, including perpetual futures, as high-risk products unsuitable for retail investors. Since 2021, bans on crypto CFDs and options have extended to perps, forcing centralized exchanges (CEXs) to geoblock UK IP addresses to comply.
This leaves UK traders sidelined from high-volume perpetual trading amid a booming market. As of 2024, global perps volume exceeds $100 billion daily, per CoinGlass data, yet UK users are locked out. Recent FCA warnings, like those targeting unregistered platforms in October 2024, underscore the enforcement push (FCA official notice).
How UK Traders Bypass Blocks: VPNs and Their Pitfalls
Despite restrictions, UK traders persist. A common workaround is VPNs, which mask IP addresses to access CEXs. Services like ExpressVPN claim crypto-friendly policies, but risks abound: platforms detect and ban VPN users, funds can be frozen, and VPNs introduce security vulnerabilities like data leaks.
More savvy users turn to decentralized exchanges (DEXs) with no-KYC requirements. These on-chain platforms eliminate central gatekeepers, allowing pseudonymous trading. Hyperliquid, a leading perps DEX, exemplifies this shift, processing billions in volume without IP checks or identity verification.
Hyperliquid: The No-KYC Perps Powerhouse
Hyperliquid stands out as a high-performance decentralized exchange built on its own Layer 1 blockchain, optimized for perpetual futures. Launched in 2023, it boasts sub-second latency and up to 100,000 orders per second, rivaling CEXs. Key features include:
- Deep Liquidity: Over $500 million TVL and $10 billion+ monthly volume, per DefiLlama.
- No KYC: Connect any compatible wallet and trade instantly—perfect for restricted regions.
- Low Fees: Maker rebates and 0.025% taker fees beat many competitors.
- Wide Markets: 100+ pairs like BTC-PERP and ETH-PERP with up to 50x leverage.
Recent upgrades, like HyperEVM integration in Q1 2025, enable seamless DeFi composability (Hyperliquid blog). For UK users, it's a game-changer: trade perps freely, then withdraw profits without regulatory hurdles.
Secure Integration: OneKey Wallet with Hyperliquid
Hyperliquid's wallet-agnostic design shines with hardware wallets like OneKey, ensuring top-tier security for perpetual trading gains. OneKey, a multi-chain hardware wallet, supports Hyperliquid via WalletConnect, allowing users to sign transactions offline.
To trade:
- Connect OneKey to app.hyperliquid.xyz.
- Deposit USDC or other assets.
- Execute perps trades.
Post-trade, withdraw to OneKey for cold storage—crucial amid DEX risks like smart contract exploits. First-time users can download OneKey for air-gapped protection. OneKey's seed phrase backup and multi-signature support align perfectly with Hyperliquid's high-stakes environment, safeguarding funds from hacks that plagued earlier DEXs.
Risks and Best Practices in a No-KYC World
While DEXs evade geoblocks, they're not risk-free. Impermanent loss, oracle failures, and liquidation cascades loom large. UK traders should:
- Use hardware wallets for all withdraw to OneKey operations.
- Monitor funding rates via Hyperliquid explorer.
- Stay updated on FCA evolves, as 2025 may bring DEX scrutiny (CoinDesk analysis).
Trade Perps Responsibly with Ultimate Security
Perps platforms block UK users for compliance, but DEXs like Hyperliquid keep the action accessible via no-KYC innovation. Pair it with OneKey for secure withdraw to OneKey, turning regulatory barriers into opportunities. In a maturing crypto landscape, self-custody remains king—empower your trades today.
